Bitcoin

Bitcoin (BTC) starts a new week in familiar territory as markets move into the United States’ 2020 elections — where could it go next? Cointelegraph takes a look at five factors that could influence BTC price action in the week ahead. U.S. macro: Elections vs. stimulus The U.S. is the firm focal point when it comes to macro markets this week. The Nov. 3 elections promise to set the mood as it becomes more apparent which side will control the White House.  Analysts have warned that a… Source link

People in Turkey are increasingly turning to bitcoin as the local currency, the Turkish lira, recently hit another record low against the dollar. Bitcoin adoption in Turkey outshines other countries in the region. Turkey Is Regional Leader in Bitcoin Adoption Bitcoin adoption has been increasing in Turkey as the local currency, the Turkish lira, hit another record low Thursday, reportedly touching 7.95 to the dollar…. Source link

A legendary bar and restaurant in Germany that was reportedly the first to ever accept cryptocurrency as a form of payment has permanently closed. According to an Oct. 18 Reddit post from Joerg Platzer, founder of Room 77, the first brick-and-mortar business to accept Bitcoin (BTC) is no longer accepting customers and has shuttered its doors. In a goodbye message riddled with references to Douglas Adams’ The Hitchhiker’s Guide to the Galaxy, Platzer said “thanks again for all the fish and… Source link

Get Forbes’ top crypto and blockchain stories delivered to your inbox every week for the latest news on bitcoin, other major cryptocurrencies and enterprise blockchain adoption. getty THREE MAJOR CORPORATES BUYING CRYPTO IS A TREND Forbes broke the story that $10 billion Stone Ridge Asset Manager purchased $100 million worth of bitcoin to make it the firm’s “primary treasury reserve asset.” This announcement follows recent news from MicroStrategy ($425… Source link

Bitcoin has found fresh support this year, bolstered by growing disquiet among investors over central bank and government stimulus measures. The bitcoin price, up around 50% since January to $11,400 per bitcoin, has rallied in line with equity markets since a coronavirus-induced crash in March. Now, after the bitcoin and cryptocurrency community was set alight by a bold $1 trillion prediction from a major Tesla TSLA investor last month, a former Goldman Sachs GS hedge… Source link

Bitcoin (BTC) exchange reserves are continuously plummeting as analysts pinpoint the trend to a shortage of sellers. Since the March crash, the reserves on exchanges rapidly fell from 2,950,000 BTC to 2,700,000 BTC. Within merely seven months, a 250,000 BTC fall in exchange reserves signifies a $2.85 billion decline. Behind the steep trend could be two major factors: a decline in sellers and lower trust toward exchanges. Bitcoin reserves on exchanges. Source: Glassnode Is the number of Bitcoin… Source link

Bitcoin (BTC) options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million. In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call options) or downside (put options). Even though there are some more complex strategies, the mere existence of liquid options… Source link

Historically, a weaker United States Dollar leads to strength across other “safe haven” assets. By analyzing the correlation, such momentum and conclusion can also be drawn with Bitcoin (BTC) and the USD. Bitcoin has gained in 2020 as the U.S. Dollar Currency Index (DXY) has been having a tough year. But will this momentum continue in the coming months? Let’s take a closer look at the charts. Bitcoin has to hold the $11,000 support level to avoid a CME gap test at $9,600 BTC/USD 1-day… Source link

Jeff Bezos is the world’s richest man, but someday if bitcoin crosses a certain valuation then Satoshi Nakamoto will be the wealthiest if he/she or they are still alive. Today, Satoshi Nakamoto, is the 157th richest person worldwide, and the crypto asset will have to cross six digits in order to surpass the Amazon founder’s net worth. In 2020, the founder of Amazon has a whopping 175 billion and he’s currently the… Source link

The price of Bitcoin (BTC) has been consolidating within a tight range for several months. If the top cryptocurrency successfully breaks out, Bitazu Capital founding partner Mohit Sorout says a record-high would be imminent. Since July 2020, Bitcoin has been ranging between $10,200 and $11,800, a 15% range. It has seen subdued volatility for a prolonged period, except for some short instances of a volatility spike. When Bitcoin stays stable for a long time in a tight price range, a major price… Source link